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Facebook Extends Gains Despite Stocks Tumbling, Dow Below 17K


U.S. stocks are falling hard on earnings disappointments and geopolitical worries. The Dow Jones Industrial dipped below the 17,000 benchmark midday. Investors didn't like the durable goods data despite it showing a rise of 0.7% in June, seeing some components in the report that are weak. Amazon (AMZN) is taking a big hit in the session. The internet retail giant is down more than 11 percent after reporting a wider-than-expected loss. Visa (V) is putting a dent in the Dow Jones Industrial after tempering its outlook. Visa's CEO Charles Scharf said, "We feel very confident that the headwinds will dissipate. What we don't know is the timing." Facebook (FB) is extending gains for a third straight day. TheStreet's Susannah Lee reports from Wall Street.